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The Honourable Jim Flaherty, Minister of Finance, today welcomed the launch
of an unprecedented public consultation with Canadians on financial literacy, as
the Task Force on Financial Literacy released a discussion paper entitled
Leveraging Excellence.

"All Canadians are working toward a personal goal, be it retiring, buying a
home or attending college or university," said Minister Flaherty. "As these
goals have financial implications, Canadians would benefit by becoming better
consumers, investors and savers."

The Task Force, announced by Minister Flaherty as part of Canada's Economic
Action Plan, released the discussion paper to mark the beginning of a
three-month national consultation. The Task Force will meet with Canadians in 15
cities across the country and host an interactive online forum. After
consultations are complete, the Task Force will make recommendations to create a
national strategy to enhance financial literacy.

"Canadians face a growing number of complex financial decisions that affect
their futures and steer our economy," said Minister Flaherty. "That's why it is
important for Canada to have a national strategy aimed at promoting and
strengthening financial literacy."

Minister Flaherty said financial literacy is a key priority for the
Government. He noted that funding has been provided to the Financial Consumer
Agency of Canada since 2007 to undertake financial literacy initiatives such as
The City, an interactive education resource for high-schoolers available
from coast to coast to coast.

"Our Government has acted to protect consumers in many areas, from credit
card regulations to rules to improve disclosures on loans," said Minister
Flaherty. "Last week, we took a number of measured steps to support the
long-term stability of Canada's housing market and continue to encourage home
ownership by Canadians. Having a national strategy to improve financial literacy
will be an important means to ensure Canadians are able to make informed and
prudent financial decisions throughout their lives."

Minister Flaherty encouraged all Canadians to take part in the consultations
and make their voices heard. Further details about the consultations and the
discussion paper are available on the Task Force's website at
www.financialliteracyincanada.com.

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